Finance & insurance

96 companies earned 425.47m€ in 2025, 2.4% of all company revenue in Montenegro. It ranks 10 of 18 sectors by revenue. Revenue has grown 15.5× since 2015.

Nationwide · 2025

Year

Revenue

425.47m€15.5× since 2015

2.4% of Montenegro's revenue

Companies

96+14 since 2015

22 with at most one employee

Employees

470-11% since 2015

Largest employer: Razvojna Banka Crne Gore (98)

Profit margin

38.1%32.0 pts above average

Total profit: 162.13m€

This sector 38.1%Montenegro: 6.1%

Payroll cost/emp./mo*

2,150€73% above average

Average per employee, not per company

This sector 2,150€Montenegro: 1,242€

Revenue and companies since 2015

FinalPreliminary

Revenue in € million (bars) and filing companies (below), 2015–2025

Revenue and companies by year
Year	Revenue	Companies
2015	27,515,054€	82
2016	26,313,808€	72
2017	50,564,095€	79
2018	29,270,228€	81
2019	24,893,351€	86
2020	203,550,753€	103
2021	249,451,445€	99
2022	288,805,478€	102
2023	386,032,100€	103
2024	450,689,722€	102
2025 (Preliminary)	425,469,639€	96

What changed in 2025

Growth is measured on the same companies, which filed for both years.

Revenue, same companies (90): 450.32m€ → 425.14m€
Employees, same companies: 461 → 463
Payroll cost per employee, same companies: 1,908€ → 2,166€
Filed for 2025, not for 2024: 6 companies · 333,243€
Filed for 2024, not for 2025: 12 companies, 366,446€ in 2024

Activities in this sector

Show all 13 activities

Activities in this sector
NACE	Activity	Companies	Employees	Revenue	Share of sector revenue
6419	Other monetary intermediation	19	157	384,284,490€	90.3%
6499	Other financial service activities, except insurance and pension funding n.e.c.	15	53	11,562,192€	2.7%
6420	Activities of holding companies	10	17	6,807,259€	1.6%
6622	Activities of insurance agents and brokers	27	109	6,539,261€	1.5%
6491	Financial leasing	2	12	5,808,492€	1.4%
6512	Non-life insuranceAssociations and intermediaries only; insurers (ASO) are not included.	1	7	4,627,205€	1.1%
6612	Security and commodity contracts brokerage	7	54	3,169,318€	0.7%
6619	Other activities auxiliary to financial services, except insurance and pension funding	7	23	1,020,389€	0.2%
6630	Fund management activities	4	19	768,496€	0.2%
6611	Administration of financial markets	1	4	492,652€	0.1%
6629	Other activities auxiliary to insurance and pension funding	1	6	363,616€	0.1%
6621	Risk and damage evaluation	1	1	26,269€	<0.1%
6430	Trusts, funds and similar financial entities	1	8	0€	0.0%
	Total	96	470	425,469,639€	100.0%

6419

Other monetary intermediation

90.3%

Companies: 19
Employees: 157
Revenue: 384,284,490€

6499

Other financial service activities, except insurance and pension funding n.e.c.

2.7%

Companies: 15
Employees: 53
Revenue: 11,562,192€

6420

Activities of holding companies

1.6%

Companies: 10
Employees: 17
Revenue: 6,807,259€

6622

Activities of insurance agents and brokers

1.5%

Companies: 27
Employees: 109
Revenue: 6,539,261€

6491

Financial leasing

1.4%

Companies: 2
Employees: 12
Revenue: 5,808,492€

6512

Non-life insurance

Associations and intermediaries only; insurers (ASO) are not included.

1.1%

Companies: 1
Employees: 7
Revenue: 4,627,205€

6612

Security and commodity contracts brokerage

0.7%

Companies: 7
Employees: 54
Revenue: 3,169,318€

6619

Other activities auxiliary to financial services, except insurance and pension funding

0.2%

Companies: 7
Employees: 23
Revenue: 1,020,389€

6630

Fund management activities

0.2%

Companies: 4
Employees: 19
Revenue: 768,496€

6611

Administration of financial markets

0.1%

Companies: 1
Employees: 4
Revenue: 492,652€

6629

Other activities auxiliary to insurance and pension funding

0.1%

Companies: 1
Employees: 6
Revenue: 363,616€

6621

Risk and damage evaluation

<0.1%

Companies: 1
Employees: 1
Revenue: 26,269€

6430

Trusts, funds and similar financial entities

0.0%

Companies: 1
Employees: 8
Revenue: 0€

Total

Companies: 96
Employees: 470
Revenue: 425,469,639€

Where they are and who is growing

Revenue by municipality

Share of the sector's revenue

Podgorica 201.78m€47.4%
Nikšić 824,941€0.2%
Herceg Novi 363,616€<0.1%
Budva 326,140€<0.1%
Tuzi 95,482€<0.1%
Cetinje 25,380€<0.1%
Danilovgrad 13,118€<0.1%
Other municipalities (1) 8,971€<0.1%
No municipality in the registry 222.03m€52.2%

Fastest growing

Revenue change vs 2024, companies with at least 1m€ that year

Xe2.70m€ → 5.95m€
+120.6%
Fond za Inovacije Crne Gore2.87m€ → 5.43m€
+88.8%
Financial Solutions1.29m€ → 1.51m€
+17.1%
Business Integration and Business Intelligence1.21m€ → 1.39m€
+14.8%
Udruženje - Nacionalni Biro Osiguravača Crne Gore4.11m€ → 4.63m€
+12.4%

Largest employers

Employees and payroll cost per employee per month*

Razvojna Banka Crne Gore
982,929€
Investiciono Društvo Limit Prime Securities
301,211€
Business Integration and Business Intelligence
261,637€
Finveo
162,158€
Centralno Klirinško Depozitarno Društvo
131,638€

All companies (96)

Ranked by total revenue · Showing 1–50 of 96

Export CSV

Companies in the sector
#	Company	Revenue share	Revenue	Revenue change2024→2025	Profit	Margin	Employees	Payroll cost/emp./mo*
1	Crnogorska Komercijalna Banka02239108	26.9%	114,451,000€	+2.0%	55,045,000€	48.1%	—	—
2	NLB Banka02011395 · Podgorica	13.1%	55,682,000€	-0.7%	26,267,000€	47.2%	—	—
3	Hipotekarna Banka02085020	11.8%	50,230,000€	+3.8%	20,831,000€	41.5%	—	—
4	Erste Bank02351242 · Podgorica	10.3%	43,654,000€	+5.8%	18,552,000€	42.5%	—	—
5	Lovćen Banka02829541	4.4%	18,785,000€	+9.6%	5,302,000€	28.2%	—	—
6	Prva Banka CG02096099	4.4%	18,592,000€	+4.1%	7,832,000€	42.1%	—	—
7	Zapad Banka03032531 · Podgorica	4.1%	17,275,000€	+7.1%	4,678,000€	27.1%	—	—
8	Addiko Bank02454190	3.7%	15,547,000€	+3.6%	3,212,000€	20.7%	—	—
9	Adriatic Bank03087158 · Podgorica	3.6%	15,373,000€	-56.0%	268,000€	1.7%	—	—
10	Razvojna Banka Crne Gore02217937 · Podgorica	3.3%	13,847,490€	+4.9%	7,443,668€	53.8%	98	2,929€
11	Universal Capital Bank02684462 · Podgorica	3.0%	12,897,000€	-9.6%	5,169,000€	40.1%	—	—
12	Xe03023427 · Podgorica	1.4%	5,954,325€	+120.6%	3,969,192€	66.7%	10	3,404€
13	Porsche Leasing02694638 · Podgorica	1.4%	5,802,443€	+9.5%	895,453€	15.4%	11	3,124€
14	Fond za Inovacije Crne Gore03382052 · Podgorica	1.3%	5,425,419€	+88.8%	2,907€	0.1%	12	4,103€
15	Udruženje - Nacionalni Biro Osiguravača Crne Gore02654733 · Podgorica	1.1%	4,627,205€	+12.4%	217,267€	4.7%	7	3,772€
16	Ziraat Bank Montenegro03048136	1.0%	4,149,000€	-10.8%	187,000€	4.5%	—	—
17	Financial Solutions03329259 · Podgorica	0.4%	1,505,988€	+17.1%	579,562€	38.5%	5	5,766€
18	Solidarno02351471 · Podgorica	0.3%	1,412,304€	-43.7%	0€	0.0%	4	2,340€
19	Business Integration and Business Intelligence02626616 · Podgorica	0.3%	1,392,851€	+14.8%	25,834€	1.9%	26	1,637€
20	Montenegro Transfers03019721 · Podgorica	0.3%	1,084,278€	-1.4%	246,496€	22.7%	6	2,558€
21	Finveo03321169 · Podgorica	0.3%	1,075,393€	-9.1%	39,360€	3.7%	16	2,158€
22	Sava Agent02699893 · Podgorica	0.2%	992,954€	+10.1%	175,174€	17.6%	7	1,543€
23	Investiciono Društvo Limit Prime Securities03138933 · Podgorica	0.2%	984,767€	-33.1%	-19,314€	-2.0%	30	1,211€
24	TF Capital03448398 · Podgorica	0.2%	980,120€	-95.4%	233,855€	23.9%	4	3,532€
25	Foldana Financial03302709 · Podgorica	0.2%	853,605€	-38.7%	161,519€	18.9%	6	1,025€
26	Krnovo Holdco03040232 · Nikšić	0.2%	824,941€	-5.5%	-251,153€	-30.4%	1	492€
27	Centralno Klirinško Depozitarno Društvo02320924 · Podgorica	0.2%	794,296€	+73.2%	168,944€	21.3%	13	1,638€
28	Rsi Global Investiciono Društvo03393429 · Podgorica	0.2%	779,560€	-17.2%	-108,843€	-14.0%	8	1,799€
29	Broker Ins02854694 · Podgorica	0.2%	653,266€	+23.2%	306,448€	46.9%	7	2,114€
30	Am Capital02921154 · Podgorica	0.1%	579,304€	+111.7%	236,391€	40.8%	5	2,635€
31	Insurance Financial Solutions03319644 · Podgorica	0.1%	542,666€	+22.2%	236,323€	43.5%	5	2,821€
32	Status Broker03037380 · Podgorica	0.1%	524,161€	+28.8%	322,460€	61.5%	4	1,688€
33	Montenegroberza02168286 · Podgorica	0.1%	492,652€	+112.6%	243,160€	49.4%	4	2,965€
34	Bti Montenegro02774216 · Podgorica	0.1%	450,254€	+1,115.3%	272,507€	60.5%	1	3,244€
35	Društvo za Upravljanje Investicionim Fondom Butterfly Finance02998459 · Podgorica	<0.1%	393,297€	-64.3%	-161,748€	-41.1%	3	2,045€
36	Fil Co02917017 · Herceg Novi	<0.1%	363,616€	-13.8%	-25,248€	-6.9%	6	932€
37	Capital Transfer Mne03035174 · Podgorica	<0.1%	362,679€	-0.7%	46,700€	12.9%	4	1,422€
38	WVP02891441 · Podgorica	<0.1%	353,530€	+9.1%	57,022€	16.1%	9	2,123€
39	Organicfx03209563 · Podgorica	<0.1%	341,099€	No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.	101,409€	29.7%	1	736€
40	Alta Pay Group03286207 · Podgorica	<0.1%	331,421€	+415.8%	-209,364€	-63.2%	8	1,830€
41	Grawe Agent02727293 · Podgorica	<0.1%	327,310€	+20.4%	151,512€	46.3%	12	684€
42	Money Transfers03165736 · Budva	<0.1%	317,049€	+4.6%	5,114€	1.6%	3	2,085€
43	Bona Fide Broker03340163 · Podgorica	<0.1%	314,750€	+37.7%	131,546€	41.8%	2	4,801€
44	Safe Life02896753 · Podgorica	<0.1%	299,706€	-21.3%	18,701€	6.2%	11	1,619€
45	Apo Plus02871866 · Podgorica	<0.1%	288,002€	+8.2%	108,275€	37.6%	2	2,425€
46	Faktorone02947536 · Podgorica	<0.1%	256,501€	+37.1%	28,454€	11.1%	2	1,958€
47	Bromar03393631 · Podgorica	<0.1%	251,522€	+38.1%	113,574€	45.2%	4	1,168€
48	Otp Debt Collection02795043 · Podgorica	<0.1%	214,409€	-37.1%	1,187,181€	Margin not shown: the profit cannot be reconciled with revenue and payroll (likely a revaluation or a misread filing).	1	—
49	Payspot Me03527611 · Podgorica	<0.1%	206,741€	+872.0%	-281,000€	-135.9%	9	2,019€
50	Rimon Capital02868474 · Podgorica	<0.1%	189,750€	+80.6%	84,551€	44.6%	1	5,125€

Revenue Revenue change Profit Margin Employees Payroll cost/emp./mo*Company

1
Crnogorska Komercijalna Banka02239108
Revenue share
26.9%
Revenue
114,451,000€
Revenue change 2024→2025
+2.0%
Profit
55,045,000€
Margin
48.1%
Employees
—
Payroll cost/emp./mo*
—
2
NLB Banka02011395 · Podgorica
Revenue share
13.1%
Revenue
55,682,000€
Revenue change 2024→2025
-0.7%
Profit
26,267,000€
Margin
47.2%
Employees
—
Payroll cost/emp./mo*
—
3
Hipotekarna Banka02085020
Revenue share
11.8%
Revenue
50,230,000€
Revenue change 2024→2025
+3.8%
Profit
20,831,000€
Margin
41.5%
Employees
—
Payroll cost/emp./mo*
—
4
Erste Bank02351242 · Podgorica
Revenue share
10.3%
Revenue
43,654,000€
Revenue change 2024→2025
+5.8%
Profit
18,552,000€
Margin
42.5%
Employees
—
Payroll cost/emp./mo*
—
5
Lovćen Banka02829541
Revenue share
4.4%
Revenue
18,785,000€
Revenue change 2024→2025
+9.6%
Profit
5,302,000€
Margin
28.2%
Employees
—
Payroll cost/emp./mo*
—
6
Prva Banka CG02096099
Revenue share
4.4%
Revenue
18,592,000€
Revenue change 2024→2025
+4.1%
Profit
7,832,000€
Margin
42.1%
Employees
—
Payroll cost/emp./mo*
—
7
Zapad Banka03032531 · Podgorica
Revenue share
4.1%
Revenue
17,275,000€
Revenue change 2024→2025
+7.1%
Profit
4,678,000€
Margin
27.1%
Employees
—
Payroll cost/emp./mo*
—
8
Addiko Bank02454190
Revenue share
3.7%
Revenue
15,547,000€
Revenue change 2024→2025
+3.6%
Profit
3,212,000€
Margin
20.7%
Employees
—
Payroll cost/emp./mo*
—
9
Adriatic Bank03087158 · Podgorica
Revenue share
3.6%
Revenue
15,373,000€
Revenue change 2024→2025
-56.0%
Profit
268,000€
Margin
1.7%
Employees
—
Payroll cost/emp./mo*
—
10
Razvojna Banka Crne Gore02217937 · Podgorica
Revenue share
3.3%
Revenue
13,847,490€
Revenue change 2024→2025
+4.9%
Profit
7,443,668€
Margin
53.8%
Employees
98
Payroll cost/emp./mo*
2,929€
11
Universal Capital Bank02684462 · Podgorica
Revenue share
3.0%
Revenue
12,897,000€
Revenue change 2024→2025
-9.6%
Profit
5,169,000€
Margin
40.1%
Employees
—
Payroll cost/emp./mo*
—
12
Xe03023427 · Podgorica
Revenue share
1.4%
Revenue
5,954,325€
Revenue change 2024→2025
+120.6%
Profit
3,969,192€
Margin
66.7%
Employees
10
Payroll cost/emp./mo*
3,404€
13
Porsche Leasing02694638 · Podgorica
Revenue share
1.4%
Revenue
5,802,443€
Revenue change 2024→2025
+9.5%
Profit
895,453€
Margin
15.4%
Employees
11
Payroll cost/emp./mo*
3,124€
14
Fond za Inovacije Crne Gore03382052 · Podgorica
Revenue share
1.3%
Revenue
5,425,419€
Revenue change 2024→2025
+88.8%
Profit
2,907€
Margin
0.1%
Employees
12
Payroll cost/emp./mo*
4,103€
15
Udruženje - Nacionalni Biro Osiguravača Crne Gore02654733 · Podgorica
Revenue share
1.1%
Revenue
4,627,205€
Revenue change 2024→2025
+12.4%
Profit
217,267€
Margin
4.7%
Employees
7
Payroll cost/emp./mo*
3,772€
16
Ziraat Bank Montenegro03048136
Revenue share
1.0%
Revenue
4,149,000€
Revenue change 2024→2025
-10.8%
Profit
187,000€
Margin
4.5%
Employees
—
Payroll cost/emp./mo*
—
17
Financial Solutions03329259 · Podgorica
Revenue share
0.4%
Revenue
1,505,988€
Revenue change 2024→2025
+17.1%
Profit
579,562€
Margin
38.5%
Employees
5
Payroll cost/emp./mo*
5,766€
18
Solidarno02351471 · Podgorica
Revenue share
0.3%
Revenue
1,412,304€
Revenue change 2024→2025
-43.7%
Profit
0€
Margin
0.0%
Employees
4
Payroll cost/emp./mo*
2,340€
19
Business Integration and Business Intelligence02626616 · Podgorica
Revenue share
0.3%
Revenue
1,392,851€
Revenue change 2024→2025
+14.8%
Profit
25,834€
Margin
1.9%
Employees
26
Payroll cost/emp./mo*
1,637€
20
Montenegro Transfers03019721 · Podgorica
Revenue share
0.3%
Revenue
1,084,278€
Revenue change 2024→2025
-1.4%
Profit
246,496€
Margin
22.7%
Employees
6
Payroll cost/emp./mo*
2,558€
21
Finveo03321169 · Podgorica
Revenue share
0.3%
Revenue
1,075,393€
Revenue change 2024→2025
-9.1%
Profit
39,360€
Margin
3.7%
Employees
16
Payroll cost/emp./mo*
2,158€
22
Sava Agent02699893 · Podgorica
Revenue share
0.2%
Revenue
992,954€
Revenue change 2024→2025
+10.1%
Profit
175,174€
Margin
17.6%
Employees
7
Payroll cost/emp./mo*
1,543€
23
Investiciono Društvo Limit Prime Securities03138933 · Podgorica
Revenue share
0.2%
Revenue
984,767€
Revenue change 2024→2025
-33.1%
Profit
-19,314€
Margin
-2.0%
Employees
30
Payroll cost/emp./mo*
1,211€
24
TF Capital03448398 · Podgorica
Revenue share
0.2%
Revenue
980,120€
Revenue change 2024→2025
-95.4%
Profit
233,855€
Margin
23.9%
Employees
4
Payroll cost/emp./mo*
3,532€
25
Foldana Financial03302709 · Podgorica
Revenue share
0.2%
Revenue
853,605€
Revenue change 2024→2025
-38.7%
Profit
161,519€
Margin
18.9%
Employees
6
Payroll cost/emp./mo*
1,025€
26
Krnovo Holdco03040232 · Nikšić
Revenue share
0.2%
Revenue
824,941€
Revenue change 2024→2025
-5.5%
Profit
-251,153€
Margin
-30.4%
Employees
1
Payroll cost/emp./mo*
492€
27
Centralno Klirinško Depozitarno Društvo02320924 · Podgorica
Revenue share
0.2%
Revenue
794,296€
Revenue change 2024→2025
+73.2%
Profit
168,944€
Margin
21.3%
Employees
13
Payroll cost/emp./mo*
1,638€
28
Rsi Global Investiciono Društvo03393429 · Podgorica
Revenue share
0.2%
Revenue
779,560€
Revenue change 2024→2025
-17.2%
Profit
-108,843€
Margin
-14.0%
Employees
8
Payroll cost/emp./mo*
1,799€
29
Broker Ins02854694 · Podgorica
Revenue share
0.2%
Revenue
653,266€
Revenue change 2024→2025
+23.2%
Profit
306,448€
Margin
46.9%
Employees
7
Payroll cost/emp./mo*
2,114€
30
Am Capital02921154 · Podgorica
Revenue share
0.1%
Revenue
579,304€
Revenue change 2024→2025
+111.7%
Profit
236,391€
Margin
40.8%
Employees
5
Payroll cost/emp./mo*
2,635€
31
Insurance Financial Solutions03319644 · Podgorica
Revenue share
0.1%
Revenue
542,666€
Revenue change 2024→2025
+22.2%
Profit
236,323€
Margin
43.5%
Employees
5
Payroll cost/emp./mo*
2,821€
32
Status Broker03037380 · Podgorica
Revenue share
0.1%
Revenue
524,161€
Revenue change 2024→2025
+28.8%
Profit
322,460€
Margin
61.5%
Employees
4
Payroll cost/emp./mo*
1,688€
33
Montenegroberza02168286 · Podgorica
Revenue share
0.1%
Revenue
492,652€
Revenue change 2024→2025
+112.6%
Profit
243,160€
Margin
49.4%
Employees
4
Payroll cost/emp./mo*
2,965€
34
Bti Montenegro02774216 · Podgorica
Revenue share
0.1%
Revenue
450,254€
Revenue change 2024→2025
+1,115.3%
Profit
272,507€
Margin
60.5%
Employees
1
Payroll cost/emp./mo*
3,244€
35
Društvo za Upravljanje Investicionim Fondom Butterfly Finance02998459 · Podgorica
Revenue share
<0.1%
Revenue
393,297€
Revenue change 2024→2025
-64.3%
Profit
-161,748€
Margin
-41.1%
Employees
3
Payroll cost/emp./mo*
2,045€
36
Fil Co02917017 · Herceg Novi
Revenue share
<0.1%
Revenue
363,616€
Revenue change 2024→2025
-13.8%
Profit
-25,248€
Margin
-6.9%
Employees
6
Payroll cost/emp./mo*
932€
37
Capital Transfer Mne03035174 · Podgorica
Revenue share
<0.1%
Revenue
362,679€
Revenue change 2024→2025
-0.7%
Profit
46,700€
Margin
12.9%
Employees
4
Payroll cost/emp./mo*
1,422€
38
WVP02891441 · Podgorica
Revenue share
<0.1%
Revenue
353,530€
Revenue change 2024→2025
+9.1%
Profit
57,022€
Margin
16.1%
Employees
9
Payroll cost/emp./mo*
2,123€
39
Organicfx03209563 · Podgorica
Revenue share
<0.1%
Revenue
341,099€
Revenue change 2024→2025
No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
Profit
101,409€
Margin
29.7%
Employees
1
Payroll cost/emp./mo*
736€
40
Alta Pay Group03286207 · Podgorica
Revenue share
<0.1%
Revenue
331,421€
Revenue change 2024→2025
+415.8%
Profit
-209,364€
Margin
-63.2%
Employees
8
Payroll cost/emp./mo*
1,830€
41
Grawe Agent02727293 · Podgorica
Revenue share
<0.1%
Revenue
327,310€
Revenue change 2024→2025
+20.4%
Profit
151,512€
Margin
46.3%
Employees
12
Payroll cost/emp./mo*
684€
42
Money Transfers03165736 · Budva
Revenue share
<0.1%
Revenue
317,049€
Revenue change 2024→2025
+4.6%
Profit
5,114€
Margin
1.6%
Employees
3
Payroll cost/emp./mo*
2,085€
43
Bona Fide Broker03340163 · Podgorica
Revenue share
<0.1%
Revenue
314,750€
Revenue change 2024→2025
+37.7%
Profit
131,546€
Margin
41.8%
Employees
2
Payroll cost/emp./mo*
4,801€
44
Safe Life02896753 · Podgorica
Revenue share
<0.1%
Revenue
299,706€
Revenue change 2024→2025
-21.3%
Profit
18,701€
Margin
6.2%
Employees
11
Payroll cost/emp./mo*
1,619€
45
Apo Plus02871866 · Podgorica
Revenue share
<0.1%
Revenue
288,002€
Revenue change 2024→2025
+8.2%
Profit
108,275€
Margin
37.6%
Employees
2
Payroll cost/emp./mo*
2,425€
46
Faktorone02947536 · Podgorica
Revenue share
<0.1%
Revenue
256,501€
Revenue change 2024→2025
+37.1%
Profit
28,454€
Margin
11.1%
Employees
2
Payroll cost/emp./mo*
1,958€
47
Bromar03393631 · Podgorica
Revenue share
<0.1%
Revenue
251,522€
Revenue change 2024→2025
+38.1%
Profit
113,574€
Margin
45.2%
Employees
4
Payroll cost/emp./mo*
1,168€
48
Otp Debt Collection02795043 · Podgorica
Revenue share
<0.1%
Revenue
214,409€
Revenue change 2024→2025
-37.1%
Profit
1,187,181€
Margin
Margin not shown: the profit cannot be reconciled with revenue and payroll (likely a revaluation or a misread filing).
Employees
1
Payroll cost/emp./mo*
—
49
Payspot Me03527611 · Podgorica
Revenue share
<0.1%
Revenue
206,741€
Revenue change 2024→2025
+872.0%
Profit
-281,000€
Margin
-135.9%
Employees
9
Payroll cost/emp./mo*
2,019€
50
Rimon Capital02868474 · Podgorica
Revenue share
<0.1%
Revenue
189,750€
Revenue change 2024→2025
+80.6%
Profit
84,551€
Margin
44.6%
Employees
1
Payroll cost/emp./mo*
5,125€

* Avg payroll cost per employee per month = wages, wage compensation and other personnel expenses from the income statement (AOP 211: net wages, taxes and contributions on wages including the employer's, and other personnel expenses) / employees / 12. It is not an employee's gross or net salary; reporting errors can move it significantly, and values below 300€ a month are not shown. How we calculate →

Insurers (ASO) report to their regulator and are not included.

Totals include 1 sole proprietor: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. How we calculate →

Finance & insurance companies in Montenegro ranked by revenue 2025 →

Source: Tax Administration / CRPSCurrency: EUR

Revenue and companies by year

Year

Revenue

Companies

2015

27,515,054€

2016

26,313,808€

2017

50,564,095€

2018

29,270,228€

2019

24,893,351€

2020

203,550,753€

103

2021

249,451,445€

2022

288,805,478€

102

2023

386,032,100€

103

2024

450,689,722€

102

2025 (Preliminary)

425,469,639€

NACE

Activity

Companies

Employees

Revenue

Share of sector revenue

6419

Other monetary intermediation

157

384,284,490€

90.3%

6499

Other financial service activities, except insurance and pension funding n.e.c.

11,562,192€

2.7%

6420

Activities of holding companies

6,807,259€

1.6%

6622

Activities of insurance agents and brokers

109

6,539,261€

1.5%

6491

Financial leasing

5,808,492€

1.4%

6512

Non-life insuranceAssociations and intermediaries only; insurers (ASO) are not included.

4,627,205€

1.1%

6612

Security and commodity contracts brokerage

3,169,318€

0.7%

6619

Other activities auxiliary to financial services, except insurance and pension funding

1,020,389€

0.2%

6630

Fund management activities

768,496€

0.2%

6611

Administration of financial markets

492,652€

0.1%

6629

Other activities auxiliary to insurance and pension funding

363,616€

0.1%

6621

Risk and damage evaluation

26,269€

<0.1%

6430

Trusts, funds and similar financial entities

0€

0.0%

Total

470

425,469,639€

100.0%

Where they are and who is growing

Revenue by municipality

Share of the sector's revenue

Podgorica 201.78m€47.4%
Nikšić 824,941€0.2%
Herceg Novi 363,616€<0.1%
Budva 326,140€<0.1%
Tuzi 95,482€<0.1%
Cetinje 25,380€<0.1%
Danilovgrad 13,118€<0.1%
Other municipalities (1) 8,971€<0.1%
No municipality in the registry 222.03m€52.2%

Fastest growing

Revenue change vs 2024, companies with at least 1m€ that year

Xe2.70m€ → 5.95m€
+120.6%
Fond za Inovacije Crne Gore2.87m€ → 5.43m€
+88.8%
Financial Solutions1.29m€ → 1.51m€
+17.1%
Business Integration and Business Intelligence1.21m€ → 1.39m€
+14.8%
Udruženje - Nacionalni Biro Osiguravača Crne Gore4.11m€ → 4.63m€
+12.4%

Largest employers

Employees and payroll cost per employee per month*

Razvojna Banka Crne Gore
982,929€
Investiciono Društvo Limit Prime Securities
301,211€
Business Integration and Business Intelligence
261,637€
Finveo
162,158€
Centralno Klirinško Depozitarno Društvo
131,638€

Company

Revenue

Revenue change2024→2025

Profit

Margin

Employees

Payroll cost/emp./mo*

Crnogorska Komercijalna Banka02239108

114,451,000€

+2.0%

55,045,000€

48.1%

—

NLB Banka02011395 · Podgorica

55,682,000€

-0.7%

26,267,000€

47.2%

—

Hipotekarna Banka02085020

50,230,000€

+3.8%

20,831,000€

41.5%

—

Erste Bank02351242 · Podgorica

43,654,000€

+5.8%

18,552,000€

42.5%

—

Lovćen Banka02829541

18,785,000€

+9.6%

5,302,000€

28.2%

—

Prva Banka CG02096099

18,592,000€

+4.1%

7,832,000€

42.1%

—

Zapad Banka03032531 · Podgorica

17,275,000€

+7.1%

4,678,000€

27.1%

—

Addiko Bank02454190

15,547,000€

+3.6%

3,212,000€

20.7%

—

Adriatic Bank03087158 · Podgorica

15,373,000€

-56.0%

268,000€

1.7%

—

Razvojna Banka Crne Gore02217937 · Podgorica

13,847,490€

+4.9%

7,443,668€

53.8%

2,929€

Universal Capital Bank02684462 · Podgorica

12,897,000€

-9.6%

5,169,000€

40.1%

—

Xe03023427 · Podgorica

5,954,325€

+120.6%

3,969,192€

66.7%

3,404€

Porsche Leasing02694638 · Podgorica

5,802,443€

+9.5%

895,453€

15.4%

3,124€

Fond za Inovacije Crne Gore03382052 · Podgorica

5,425,419€

+88.8%

2,907€

0.1%

4,103€

Udruženje - Nacionalni Biro Osiguravača Crne Gore02654733 · Podgorica

4,627,205€

+12.4%

217,267€

4.7%

3,772€

Ziraat Bank Montenegro03048136

4,149,000€

-10.8%

187,000€

4.5%

—

Financial Solutions03329259 · Podgorica

1,505,988€

+17.1%

579,562€

38.5%

5,766€

Solidarno02351471 · Podgorica

1,412,304€

-43.7%

0€

0.0%

2,340€

Business Integration and Business Intelligence02626616 · Podgorica

1,392,851€

+14.8%

25,834€

1.9%

1,637€

Montenegro Transfers03019721 · Podgorica

1,084,278€

-1.4%

246,496€

22.7%

2,558€

Finveo03321169 · Podgorica

1,075,393€

-9.1%

39,360€

3.7%

2,158€

Sava Agent02699893 · Podgorica

992,954€

+10.1%

175,174€

17.6%

1,543€

Investiciono Društvo Limit Prime Securities03138933 · Podgorica

984,767€

-33.1%

-19,314€

-2.0%

1,211€

TF Capital03448398 · Podgorica

980,120€

-95.4%

233,855€

23.9%

3,532€

Foldana Financial03302709 · Podgorica

853,605€

-38.7%

161,519€

18.9%

1,025€

Krnovo Holdco03040232 · Nikšić

824,941€

-5.5%

-251,153€

-30.4%

492€

Centralno Klirinško Depozitarno Društvo02320924 · Podgorica

794,296€

+73.2%

168,944€

21.3%

1,638€

Rsi Global Investiciono Društvo03393429 · Podgorica

779,560€

-17.2%

-108,843€

-14.0%

1,799€

Broker Ins02854694 · Podgorica

653,266€

+23.2%

306,448€

46.9%

2,114€

Am Capital02921154 · Podgorica

579,304€

+111.7%

236,391€

40.8%

2,635€

Insurance Financial Solutions03319644 · Podgorica

542,666€

+22.2%

236,323€

43.5%

2,821€

Status Broker03037380 · Podgorica

524,161€

+28.8%

322,460€

61.5%

1,688€

Montenegroberza02168286 · Podgorica

492,652€

+112.6%

243,160€

49.4%

2,965€

Bti Montenegro02774216 · Podgorica

450,254€

+1,115.3%

272,507€

60.5%

3,244€

Društvo za Upravljanje Investicionim Fondom Butterfly Finance02998459 · Podgorica

393,297€

-64.3%

-161,748€

-41.1%

2,045€

Fil Co02917017 · Herceg Novi

363,616€

-13.8%

-25,248€

-6.9%

932€

Capital Transfer Mne03035174 · Podgorica

362,679€

-0.7%

46,700€

12.9%

1,422€

WVP02891441 · Podgorica

353,530€

+9.1%

57,022€

16.1%

2,123€

Organicfx03209563 · Podgorica

341,099€

101,409€

29.7%

736€

Alta Pay Group03286207 · Podgorica

331,421€

+415.8%

-209,364€

-63.2%

1,830€

Grawe Agent02727293 · Podgorica

327,310€

+20.4%

151,512€

46.3%

684€

Money Transfers03165736 · Budva

317,049€

+4.6%

5,114€

1.6%

2,085€

Bona Fide Broker03340163 · Podgorica

314,750€

+37.7%

131,546€

41.8%

4,801€

Safe Life02896753 · Podgorica

299,706€

-21.3%

18,701€

6.2%

1,619€

Apo Plus02871866 · Podgorica

288,002€

+8.2%

108,275€

37.6%

2,425€

Faktorone02947536 · Podgorica

256,501€

+37.1%

28,454€

11.1%

1,958€

Bromar03393631 · Podgorica

251,522€

+38.1%

113,574€

45.2%

1,168€

Otp Debt Collection02795043 · Podgorica

214,409€

-37.1%

1,187,181€

—

Payspot Me03527611 · Podgorica

206,741€

+872.0%

-281,000€

-135.9%

2,019€

Rimon Capital02868474 · Podgorica

189,750€

+80.6%

84,551€

44.6%

5,125€

Overview

Revenue

Companies

Employees

Profit margin

Payroll cost/emp./mo*

Revenue and companies since 2015

What changed in 2025

Activities in this sector

Where they are and who is growing

Revenue by municipality

Fastest growing

Largest employers

All companies (96)

Overview

Revenue

Companies

Employees

Profit margin

Payroll cost/emp./mo*

Revenue and companies since 2015

What changed in 2025

Activities in this sector

Where they are and who is growing

Revenue by municipality

Fastest growing

Largest employers

All companies (96)